Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - Jazeera Airways sees domestic demand to drive future growth   Join our daily free Newsletter

MENAFN - Arab Times - 23/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) The growth opportunity for coming years will be driven by the growth of the domestic demand, Jazeera Airways Group Chairman of the Board, Marwan Boodai said Thursday. The Chairman of the group said the airline "will continue to invest in the business to capitalize on this growth." Boodai made his remarks during the annual shareholders general meeting here, noting that their "on-ground investments and fleet modernization program will reinforce and even enhance Jazeera Airways as the preferred airline for regional travel. "We believe that the growth opportunities are at home, and we are well-positioned to take advantage of them in 2014 and beyond," Boodai added. Among such indications of growth are current Kuwait's Gross Domestic Product (GDP) numbers, which puts Kuwait at 8th place globally based on rankings from the International Monetary Fund (IMF)



Kuwait also have a huge youth population, almost half of the population are under 25 yrs and are gradually being enrolled in the work market. Following on the double digit growth in the previous years, in 2013 Jazeera Airways Group registered a 19.6 percent increase in the net profit, making 2013 the company's best performing year on record despite the political unrest in the region and the volatility of fuel prices. Boodai, said "the year 2013 was an eventful year, in addition to sustaining good results for three years in a row, we were able to secure our funding for three aircraft, essentially closing our lending requirements for two years, we were able to reduce the Group's debt to equity ratio from 1.7 in 2012 to 1.4 in 2013, and close the year with the best performance in the Group's history." During the general meeting, shareholders approved all proposals, including the issuance of a 15 fils cash dividend per share. On-ground, Jazeera Airways is currently building its own gates and state-of-the-art bridges at Kuwait International Airport



Once operational in the second quarter of 2014, these gates will enable Jazeera Airways to offer an even better and more efficient customer experience. In the air, Jazeera Airways Group is embarking on a fleet modernization program. Jazeera Airways had a 5 percent increase in 2013's flown passengers on the Kuwait-Dubai route in comparison to 2012, and the airline grabbed a 14 percent market share on the route. In October 2013, the airline launched flights to the new Al-Maktoum International Airport at Dubai World Central, increasing weekly flights serving both Dubai airports to an average of 27 flights a week

Jazeera Airways was the leading airline serving the popular route between Kuwait and Amman last year with a 41 percent market share, and a 20 percent increase in flown passengers in comparison to 2012

Despite year-long instabilities in Beirut, the airline saw a 16 percent increase in flown passengers between Kuwait and Beirut from 2012. Jazeera Airways grabbed a high 40 percent market share on the route




 


Arab Times




  MENA News Headlines
 Jan 29 2015 - HH the Emir Receives Phone Call from Ban Ki-moonQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani on Thursday received a phone call from the United Nations Secretary-General, Ban Ki-moon, during which he thanked HH the Emir on the ...

 Jan 29 2015 - Consumer spends on pharma products to increase to Dh5.03b by 2020Khaleej Times
(MENAFN - Khaleej Times) Dubai € Consumer expenditure on pharmaceutical products, medical appliances and equipment in the UAE has experienced a strong increase and is forecast to be valued around ...

 Jan 29 2015 - UAE- Time to put cyber security on top priorityKhaleej Times
(MENAFN - Khaleej Times) Kaspersky lab solutions block millions of attacks across the globe, which clearly indicates that cyber criminals are smart, but not smarter than security providers.This was ...

 Jan 29 2015 - Indian business council honours Emirati businessmenKhaleej Times
(MENAFN - Khaleej Times) Dubai - The Indian Business and Professional Council (IBPC) hosted a reception on the occasion of the 66th Republic Day of India at the Oberoi Hotel, Business Bay, on Sunday. ...

 Jan 29 2015 - UAE, Canada discuss ways to boost tradeKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, received a Canadian delegation led by Martin Zablocki, CEO of the Canadian ...

 Jan 29 2015 - Emirates NBD facilitates Stanbic in $85 million loan facilityKhaleej Times
(MENAFN - Khaleej Times) Al Ahli Bank of Kuwait and Standard Chartered Bank joined the transaction as mandated lead arrangers while Al Khalij Commercial Bank and The Commercial Bank of Qatar ...

 Jan 29 2015 - NBAD profit jumps 28% in 2014Khaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - A strong growth in incomes from interest and non-interest based revenues bolstered the National Bank of Abu Dhabi (NBAD) profits to Dh1.372 billion in the quarter ...

 Jan 29 2015 - UAE pharma spend to hit Dh5 billion by 2020Khaleej Times
(MENAFN - Khaleej Times) It is also forecasted to increase at a compound annual growth rate (CAGR) of about 9.78 per cent from 2014 to 2020 as, by then, the value of consumer expenditure on ...

 Jan 29 2015 - Parents happy with children's educationKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi: A survey by the Abu Dhabi Education Council (Adec) has revealed that parents across the emirate are satisfied with their children's schools. The education ...

 Jan 29 2015 - Customers continue winning at Malabar Gold 1amp Diamonds FestivalArab News
(MENAFN - Arab News) Customers continue to win at Malabar Gold & Diamonds' ongoing gold and diamond festival.The jewelry retailer's 4th edition of Malabar Gold & Diamonds Festival in the GCC ...

more...


 






Google

Electronic & Mobile Payment

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help